Former HDFC Bank chairman Atanu Chakraborty cites misselling of AT-1 bonds and underperformance as key reasons for his resignation, dismissing personal differences as a major factor.
HDFC Bank's leadership addresses the sudden resignation of its chairman, citing ethical concerns, and attempts to reassure stakeholders about the bank's governance and future stability.
Ahmedabad police have seized counterfeit Indian currency with a face value of 2.38 crore and arrested seven individuals, including a yoga teacher from Surat. The operation uncovered the use of AI and e-commerce platforms to produce and distribute the fake notes.
The Election Commission has warned against any lapses in maintaining law and order ahead of the West Bengal Assembly elections, questioning the absence of a Narcotics Advisory Committee in the state and directing strict monitoring of financial transactions.
The total reserves increased to $701.3 billion on the back of a rise in foreign currency assets which increased by $9.6 billion to $560 billion during the reported week.
Passenger vehicle sales in India reached a record high of 4.7 million units in FY26, boosted by strong performances from major automakers and the implementation of GST 2.0.
Governance uncertainty and leadership visibility gap are likely to keep the stock under pressure in the near term, said Nomura in a report.
The Reserve Bank of India (RBI) on Tuesday came out with a draft framework on declaration of dividend by banks, as it proposed capping dividend payout to shareholders at 75 per cent of their net profit-- also called profit after tax (PAT).
A new report indicates that UPI has become the dominant payment method for lenders, accounting for over 90% of transactions. The report also highlights trends in investment amounts, diversification strategies, and geographic participation in peer-to-peer lending.
'Every day the meter is ticking. Like a time bomb.' Shipping giants are billing Indian exporters up to $3,000 per container in war surcharges -- on cargo that sailed before the war began -- as the Strait of Hormuz shuts down.
Customers will qualify for compensation even if they mistakenly share the OTP.
There are hopes of a turnaround in overall corporate earnings after six quarters of single digit growth.
Traditional powerhouses PSPB and RSPB began their campaigns strongly at the 87th UTT Senior National Table Tennis Championships, securing dominant victories and moving closer to the knockout stage.
Months after picking up 24.21 per cent stake in private sector lender Yes Bank, Japan's Sumitomo Mitsui Banking Corporation (SMBC) has received the Reserve Bank of India's (RBI's) in-principle approval for setting up a wholly owned subsidiary (WOS) in India.
Sanjay Malhotra has made structural changes to banking regulation to bring down costs and increase efficiency. Plus, he kicked off a benign interest regime. But there are challenges ahead.
The government is closely watching the fast-paced developments at the salt-to-semiconductor conglomerate.
Strong domestic growth will continue to draw foreign investment into the Indian economy, Reserve Bank of India (RBI) Governor Sanjay Malhotra said on Tuesday. He said this was reflected in recent free trade agreements and investment commitments by large technology companies.
India's foreign exchange reserves have surged to an all-time high, reaching USD 728.494 billion, according to the Reserve Bank of India. This increase is attributed to a rise in foreign currency assets and gold reserves.
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The Supreme Court has sought responses from the Centre, the CBI and others on a plea filed by a 78-year-old retired banker who was duped of Rs 23 crore after allegedly being put under "digital arrest" for nearly a month.
India's forex reserves decreased by $2.119 billion to $723.608 billion during the week ended February 20, according to the RBI.
The amount involved in banking system frauds surged to Rs 21,515 crore in the first half of FY26, up 30 per cent from the same period last year, even as the number of frauds fell 2.8 times to 5,092.
'The next two to three weeks will not be decided in Washington.' 'They will be decided in Tehran, in whatever calculation Iran makes about the costs of continued resistance against the costs of appearing to have yielded.'
Fintech firm One97 Communications on Thursday said its subsidiary Paytm Payments Services Limited (PPSL), has received authorisation from the Reserve Bank of India to operate as a Payment Aggregator for physical (offline) payments and cross-border transactions.
The Indian rupee weakened against the US dollar due to rising crude oil prices, geopolitical tensions in the Middle East, and foreign fund outflows.
Atanu Chakraborty has resigned as chairman of HDFC Bank, citing ethical concerns, marking an unusual departure and prompting the appointment of an interim chairman.
Indian stock market benchmark indices Sensex and Nifty experienced a significant decline, driven by escalating tensions in the Middle East and rising crude oil prices.
State debt is rising because revenues are disappointingly weak. Ten states have debt ratios exceeding 30 per cent. In 2023-2024, states were borrowing simply to meet day-to-day expenses, points out Debashis Basu.
Fitch Ratings on Friday said persistently higher oil prices could cause India's retail inflation to rise faster than the expected gradual pace, and lead to a slowdown in economic growth in the first half of financial year 2026-27 (FY27).
Banks cannot treat compliance as a quarter-end activity, and must have stronger operational discipline and data governance throughout the year, Reserve Bank of India (RBI) Deputy Governor Swaminathan J said in a speech at the Third Annual Global Conference of the College of Supervisors.
Fexo, an AI intelligence platform focused on the BFSI sector, has launched its AI decisioning engine for business loans, designed to help financial institutions accelerate AI adoption and improve decision-making processes.
The Indian rupee fell to a record low against the US dollar due to rising crude oil prices, foreign institutional investor selling, and weak domestic equity market sentiment.
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
India's forex reserves jumped $8.663 billion to hit a new all-time high of $725.727 billion in the week ended February 13, the RBI said on Friday.
'Rate cut looks unlikely and there is reason to believe that the cycle is over.'
A 64-year-old man from Thane was allegedly defrauded of 1.56 crore by cybercriminals using a 'digital arrest' scam, involving forged documents and constant surveillance.
The easing of external commercial borrowing (ECB) norms by the Reserve Bank of India (RBI) is expected to significantly boost overseas fundraising by Indian companies, market participants said.
The relation between a regulator and its regulated entities is collaborative and not adversarial with the common objective of maintaining the stability and credibility of the financial system. However, the action on regulated entities like penalties and business restrictions are the last resort, Reserve Bank of India (RBI)'s governor Sanjay Malhotra said on Friday.
Wholesale price inflation extended upward momentum for the third straight month, at 1.81 per cent in January, driven by an uptick in prices of food, non-food articles, and manufactured items on a month-on-month basis, government data showed on Monday.
Mastercard and Visa are introducing passkeys that will allow users to authenticate card payments with face scans or fingerprints, eliminating the need for one-time passwords (OTPs).
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